Nossa Data’s Post

🌍 Understanding IFRS Fundamentals: Why They Matter Today In an increasingly interconnected global economy, International Financial Reporting Standards (IFRS) have become essential for ensuring transparency, consistency, and comparability in financial reporting. Here’s why IFRS is more relevant than ever: 1️⃣ Global Standardization: IFRS provides a common accounting language across borders, making it easier for investors, companies, and regulators to understand and assess financial statements from different countries. 2️⃣ Improved Transparency: By enforcing a principles-based approach, IFRS enhances the clarity and transparency of financial reporting, helping stakeholders make better-informed decisions. 3️⃣ Facilitating Global Capital Flow: With more than 140 countries adopting IFRS, it streamlines financial reporting for multinational companies, fostering smoother cross-border investments and capital flows. 4️⃣ Adaptability and Relevance: IFRS continues to evolve to address emerging issues such as sustainability reporting and digital assets, keeping the standards relevant in today’s fast-changing business landscape. For finance professionals, staying updated on IFRS is not just about compliance—it's about being prepared for the future of global finance. 💡 #IFRS #Finance #GlobalEconomy #FinancialReporting #Transparency #Accounting #FinanceProfessionals

Watch PwC’s latest Quarterly #IFRS Update for our specialists insights into the accounting updates to start planning for now, reflections from 2023 year-end and an updating on sustainability reporting. Our new format now allows for the slides to be visible at the same time as the speakers, for a much better viewing experience!

The meeting summary for 2 July 2024 #IFRS Taxonomy Consultative Group meeting is now available. As part of the meeting, the group held productive discussions on several key areas of digital financial reporting, including:   👉a review of the IFRS Taxonomy Due Process; 👉 fieldwork for proposed updates to the IFRS Accounting Taxonomy for IFRS 18 Presentation and Disclosure in Financial Statements; and 👉 an update on digital financial reporting activities and taxonomy work plan relating to the IFRS Accounting Taxonomy and the IFRS Sustainability Disclosure Taxonomy.   You can read the meeting summary and watch recordings from the meeting here: https://lnkd.in/e7sijmVR   #digitalreporting #IFRSaccounting #IFRSsustainability

🌟 Exciting News! IFRS 18 is Here to Revolutionize Financial Reporting! 🚀 🔥 I recently noticed a flurry of posts on LinkedIn about the release of IFRS 18 Presentation and Disclosure in Financial Statements. The buzz and engagement within the community are incredible! 🙌 📊 This game-changing accounting standard by the IASB aims to empower investors with transparent and comparable financial information, leading to better investment decisions. It's a win-win for everyone! 💼💰 🔎 With a structured income statement, improved comparability, and transparent disclosure of management-defined performance measures, IFRS 18 will unlock a new era of insightful analysis and confident investments. 💡💪 📅 Effective from January 1, 2027, companies even have the option to adopt it earlier. I can't wait to witness the positive impact of IFRS 18 on financial reporting practices and the exciting transformations it brings to assessing companies' financial performance. Let's embrace this change together! 🌟✨ #IFRS18 #FinancialPerformance #InvestmentDecisions #GameChanger

IFRS 2024: Key Changes You Need to Be Ready For - IFRS standards are evolving to address the dynamic needs of global business, and 2024 introduces several critical updates. These include expanded guidance on sustainability-related disclosures, reflecting the increasing importance of ESG considerations in financial reporting. Updates to revenue recognition for complex contracts aim to enhance clarity and consistency, while changes in lease accounting, particularly for sale-and-leaseback transactions, refine existing frameworks. These adjustments underscore the importance of transparency and comparability, but they also require finance professionals to adapt quickly. Organizations must ensure their teams are equipped with the right knowledge and tools to comply effectively. As these changes roll out, they present not just compliance challenges but opportunities to elevate reporting standards. How are you preparing for IFRS 2024 in your organization? Are your systems and teams ready to navigate these updates? Share your insights and join the discussion! #IFRS #FinancialReporting #ESG

The IFRS Foundation has today published Using the IFRS digital taxonomies—A guide for regulators implementing the IFRS digital taxonomies in a digital filing system.    Digital financial reporting enables investors to efficiently search, extract and compare companies’ financial reports. The IFRS digital taxonomies – the IFRS Accounting Taxonomy and the IFRS Sustainability Disclosure Taxonomy – facilitate companies’ reporting of financial information in a computer-readable, structured data format. The guide is developed to assist regulators in their implementation of the IFRS digital taxonomies.   Find out more: https://lnkd.in/eE6cxskG   International Accounting Standards Board (IASB), International Sustainability Standards Board (ISSB) #IFRSdigitaltaxonomy #digitaltaxonomy #taxonomy #IASB #ISSB #IFRS

IOSCO welcomes the IFRS Foundation's guide for regulators implementing the IFRS digital taxonomies in a digital filing system. This important guide builds on the valuable work the IFRS is doing on digital financial reporting.  #digitalfinancialreporting

The IFRS Foundation's webcast series on connectivity between financial statements and sustainability-related financial disclosures discusses how IFRS Accounting Standards and IFRS Sustainability Disclosure Standards complement each other. Through practical examples, they illustrate how applying the Standards together results in complementary and connected reported information. https://bit.ly/3DwphhA Webcast 1: IFRS Standards—Complementary and connected information Webcast 2: Example—Climate-related risks and impairment of non-financial assets Webcast 3: Example—Climate-related opportunities and changes in product mix  Webcast 4: Example—Climate-related commitments Link to all webcasts are provided in 1st comment #IFRS #Sustainability #ESG #sustainabilityreporting

Digital reporting and the IFRS digital taxonomies . . . https://lnkd.in/gyiSH8bd #sustainotech #IFRS #taxonomy #EU #digital #reporting #linkedin

Are you aware of the transformative role International Financial Reporting Standards (IFRS) play in enhancing financial transparency and global trust? In today’s interconnected world, companies face mounting challenges to compete on an international scale. This is where IFRS steps in, unifying the accounting language worldwide and making it easier to attract investments and foster cross-border collaborations. * What does IFRS offer? Greater transparency in financial reporting. Improved comparability between companies globally. Enhanced financial management and investor confidence. * Why is IFRS a game-changer for businesses? Whether you're in accounting, management, or investment, aligning with IFRS showcases professionalism and boosts competitiveness in global markets. * Discussion Point: How can businesses in our region adopt IFRS effectively despite challenges? Share your thoughts or experiences in the comments below! Let’s discuss how we can drive the transition toward better financial standards together. #IFRS #FinancialReporting #AccountingStandards #GlobalBusiness #Transparency #Investments #CorporateFinance #BusinessGrowth #FinanceLeadership